FOREX TRADING : HARMONIC PATTERNS WITH MT5 PYTHON

Build a solid foundation in forex trading and automation with MT5, Python, and PyChamp to automate strategies, manage data, and master order types.

Automate forex trading with MT5 Python to save time and scale across multiple pairs and strategies. Follow predefined rules to reduce emotional biases, misclicks, and incorrect order sizes.

Explore why traders choose forex trading, including 24/5 access, unmatched liquidity, low deposits, self-directed control, leverage, and profits that arise in rising or falling markets.

Explore what a forex broker is and how traders access a platform to buy and sell currencies, and how spreads, commissions, and fees shape trading.

Master MetaTrader5 as the course foundation, highlighting MT5 API and Python integration for forex trading. Download MT5, connect to demo and broker servers, and apply harmonic pattern trading strategy.

Learn to install Python and set up PyCharm for developing MT5 API-based harmonic pattern trading algorithms, preparing you to execute strategies in forex trading.

Install python from python.org, add python.exe to PATH to access it from any folder, and verify with python -V showing version 3.13.0.

Choose PyCharm as the go-to Python IDE, offering intelligent code completion, debugging, and PEP8 checking, with seamless git integration and support for Django, Flask, and Pyramid.

Download PyCharm from JetBrains and install PyCharm Community Edition on Windows, enabling open folder as project, Python file extension, and PATH setup. Learn to use PyCharm in the next lecture.

Create a new PyCharm project, configure a virtual environment and base Python, add main.py, print hello world, and run via the run button or Ctrl+Shift+F10.

Download and install MetaTrader5, open a demo account, and explore the MT5 terminal by placing orders, stop loss, take profit, market watch, charts, and MACD.

Connect your Python script to the MT5 terminal via the MetaTrader5 package, initialize with credentials from key.txt, and keep the terminal open to enable trading via the API.

Learn to set up a broker account and link it to MT5, then connect MT5 to a Python trading application to trade or backtest using FXTM demo accounts.

Explore forex basics: quote and base currencies, contract size, pip, leverage, and margin, and use MT5 API and terminal to prepare for harmonic pattern trading.

Learn forex symbols and contract lot sizes, including base and quote currencies and major, minor, and exotic pairs. Understand pips and decimal places, and how mt5 handles concepts in trading.

Access the MT5 API to retrieve symbols with Symbol_get and filter USD pairs. Use symbol_info and symbol_info_tick to obtain instrument data and compute a current price from bid and ask.

Learn to calculate pip value for forex pairs using the symbol point. Implement a code function in MT5 to fetch pip information and compute PNL.

Learn how leverage drives larger positions, how margin and margin level govern risk, and how balance and equity interact with free margin in MT5 demo trading.

Learn how to use the MT5 Python API to retrieve and interpret account information, including balance, equity, margin, and free margin, using the account_info call and a custom account_details function.

Learn to fetch forex historical data with the MT5 Python API using copy_rates_from, convert to a pandas dataframe, convert timestamps, and index by time for backtesting.

Define a reusable historical data function get_hist_data for mt5 in Python, accepting symbol, timeframe, time_till, and candles. Include a docstring, defaults for time_till and candles, and return a data frame.

Revise historical data retrieval to be time zone agnostic using MT5 copy_rates_from_pos with a start position, ensuring accurate 15-minute candles and alignment with MT5 across UTC and local time.

Explore forex order types with MT5, focusing on market orders with immediate execution at the current price, and an overview of pending orders like limit, stop, and stop-limit orders.

Learn how pending orders work in MT5, focusing on limit orders like buy limit and sell limit, with practical EURJPY examples and conditions for execution.

Explore stop orders as pending orders that trigger market entries when price reaches the stop price, including buy stop and sell stop examples on MT5 with EUR/USD.

Explore how stop limit orders blend stop and limit orders, using trigger and limit prices to place buy and sell stops on MT5 with the EUR/USD pair.

Learn how bracket orders combine an entry with take-profit and stop-loss, enabling exits on MT5 for buy bracket order and sell bracket order to manage risk and lock in profits.

Learn how trailing stop orders in MT5 dynamically follow prices to protect gains for long and short positions, and set or remove them on open or pending orders.

Place orders on the MT5 API using order_send by building a requests dictionary with action, symbol, volume, price, and order type; compare market and limit orders and filling options.

Enable auto trading in MT5 and place market orders via the API for EURUSD with 0.05 volume, buy or sell, then verify execution and prepare for limit orders.

Demonstrates placing limit orders with the MT5 API by converting market orders to pending buys and sells, using a pip gap from the ask or bid to set limit prices.

Explore bracket orders in the MT5 Python API by setting stop loss and take profit at order placement, then implement both absolute price and pip-based exits for forex risk management.

Implement a trailing stop loss in MT5 via MT5 api by retrieving a position by ticket, calculating distance from the stop loss, and updating with max distance stoploss and trail_amount.

Implement a trailing stoploss with the MT5 API, updating buy and sell orders with 10 pips max distance and 5 pips trail; part 2 covers harmonic patterns with Python.

Build a harmonic patterns trading strategy in python using fibonacci to identify gartley, butterfly, cypher, bat, crab, shark, and 5-0 patterns, with MetaTrader5 data and backtesting.

Harmonic patterns are chart patterns used in trading to predict future market movements from price retracements and extensions, based on Fibonacci retracement and extension levels.

Identify harmonic patterns that reveal price structures with higher reversal probability, provide entry and exit levels, and combine Fibonacci retracement and extension levels across timeframes to guide risk management.

Explore the Fibonacci sequence from zero and one, and how consecutive terms yield the golden ratio 0.618 and 1.618, with applications in nature, art, and finance.

Discover Fibonacci level analysis for forex trading, using retracements and extensions to identify support, resistance, and price targets with ratios such as 23.5%, 38.2%, 50%, 61.8%, 78.6%, and key extensions.

Explore various harmonic patterns in forex trading, including Gartley, Cypher, Butterfly, Crab, Deep Crab, BAT, Shark, Swan, and 5-0, and their role in a trading strategy.

Identify and validate the Gartley pattern using fibonacci levels: B at 61.8% XA, C between 38.2% and 88.6% AB, D between 127.8% and 161.8% BC, with 78.6% XA alignment.

Explore the cypher harmonic pattern in forex trading, validating B, C, and D criteria (38.2–61.8% of XA, 1.27–1.41 extension, 78.6% of XC) with a bullish and bearish example on AUD/USD.

examine the butterfly pattern, including bullish and bearish forms, and validate using fibonacci criteria on CHFJPY: B at 78.6% of XA, C 38.2–88.6% AB, D 127.2–161.8% XA, CD 161.8–261.8% BC.

Validate the crab pattern by checking B, C, and D against XA, AB, and BC with Fibonacci ratios, using a GBPUSD one-hour example showing a bearish crab.

Learn the deep crab harmonic pattern in forex, including B at 0.886 XA, C between 0.382–0.886 AB, D at 1.618 XA, and CD 2.618–3.618 BC, with USD/JPY chart examples.

Identify and validate the bearish bat pattern by applying fib rules to XA, AB, and BC legs, marking X, A, B, C, D on the GBPUSD four-hour chart.

Learn the alternate bat harmonic pattern, with B at 0.382 XA, C between 0.382–0.886 AB, D at 1.13 XA, and CD 2.0–3.618 BC, demonstrated on EURCAD on a 15-minute chart.

Identify and validate the shark pattern by ensuring A does not pass O, B lies between 1.13–1.618 of XA, and C lies within AB 1.618–2.24 and OX 0.886–1.13.

Explore the white and black swan harmonic patterns, with specific point criteria on XA, AB, and BC legs to confirm each pattern, and prepare for the next 5-0 pattern.

Explore the 5-0 harmonic pattern, extending to point D with six points O, X, A, B, C, D, and verify B, C, D criteria for bullish or bearish formations.